Aadhar Housing Finance · PDF fileAadhar Housing Finance Limited Fair Practices Code

Aadhar Housing Finance Limited

Fair Practices Code of 17

AADHAR HOUSING

FINANCE LIMITED

FAIR PRACTICES CODE

(Amendments Effective from April, 2017)



CONTENTS

Sl.

No.

Topic Page No.

1. Introduction 3

1.2. Objective 3

1.3 Application of the code 3

1.4. Commitments 4

2 Disclosure and Transparency 4

3. Advertising, Marketing and Sales 5

4 Loans 5

4.2 Guarantors 9

4.3 Privacy and Confidentiality 9

4.4 Credit reference agencies 10

4.5 Collection of Dues 11

4.6 Complaints and Grievances 12

4.7 Know Your Customer (KYC) Policy 13

4.8 Deposit Accounts 13

4.9 Branch Closure / Shifting 13

4.10 Complaints 14

5. General 15




FAIR PRACTICES CODE - Revised

(As amended and approved by the Board of Directors of the Company

Effective from April, 2017)

1. Introduction

National Housing Bank had issued their Fair Practices Code guidelines vide

notifications/Circular No. NHB (ND)/DRS/Pol-No.16/2006 dated 5th

September,

2006, and the same had been subsequently amended in the guidelines issued by them

vide Circular No. NHB/ND/DRS/Pol. No. 34/2010 -11 dated 11th

October, 2010.

Aadhar Housing Finance Limited (previously known as Aadhar Housing Finance

Private Limited) (AHFL), with a view to ensure the best Corporate Practices and

transparency in dealing with its clients, has adopted the guidelines in its Fair

Practice Code (Code) previously approved by the Board of Directors of the

Company in its Board Meeting held on 27th

December, 2010 and came to immediate

effect.

The said code deals with promotion of good and fair practices, increased

transparency, encouraging market forces, ensuring a fair and cordial relationship

between borrower / Customer and the Company and to foster confidence of the

customer in the housing finance system of the Company. The Code has the

following key elements.

1.2 Objectives :

To promote good and fair practices by setting minimum standards in dealing

with customers;

To increase transparency so that the customer can have a better

understanding of what they can reasonably expect of the services;

To encourage market forces, through competition, to achieve higher

operating standards;

To promote a fair and cordial relationship between customer and AHFL; and

To foster confidence in the housing finance system.

1.3 Application of the Code

The code shall be applicable across all aspects of operations including

marketing, loan origination processing and servicing and collection activities.

Our commitment to Fair Practice Code would be demonstrated in terms of

employee responsibility, efficiency, monitoring and auditing programmes,

training and technology.

Through regular training programs, meetings, seminars, circulars and other

modes of the communication employees would be made aware of the code so

that there is a strong commitment for fair and quality lending and efficient

and fair services.



1.4 . The company to act fairly and in a transparent manner:

It should act fairly and reasonably in all dealings with customers, by ensuring

that:

a) They meet the commitments and standards in this Code for the products and

services they offer and in the procedures and practices their staff follows.

b) Their products and services meet relevant laws and regulations in letter and

spirit.

c) Their dealings with customers rest on ethical principles of integrity and

transparency.

1.5 Commitments

AHFL shall adhere to this code to act fairly and reasonably in all dealings, on the

ethical principle of integrity and transparency, to meet the standard practices

prevalent in the housing finance industry.

AHFL would provide clear information, without any ambiguity, to the customer in

understanding:

Products and services together with its terms and conditions including interest and

service charges.

Benefits available to customer

AHFL will deal quickly and sympathetically in correcting mistakes if any, and

attend to customer's complaints in light of the objectives of this code.

AHFL shall treat all personal information of customers as private and confidential

and shall not divulge any information to third person unless required by any law or

Government authorities including Regulators or Credit agency or where the sharing

of information is permitted by the customer.

AHFL would provide, on request, copy of the Code to the existing borrowers and

new customer prior to commencement of business transaction.

AHFL shall not discriminate its customers on the basis of age, race, caste, gender,

marital status, religion or disability. However the restrictions if any, as mentioned in

the loan products, shall continue to apply.

2

Disclosure and Transparency

AHFL would provide information on interest rates, common fees and charges

through:



2A

(a) Putting up notice in branches;

(b) Providing tariff schedule.

AHFL would transparently disclose to the borrower all information about

fees/charges payable for processing the loan application, the amount of fees

refundable if loan amount is not sanctioned /disbursed, pre-payment options and

charges, if any, penalty for delayed repayment if any, conversion charges for

switching loan from fixed to floating rates or vice-versa, existence of any interest

re-set clause and any other matter which affects the interest of the borrower.

In other words, AHFL shall disclose ‘all in cost’ inclusive of all charges involved in

processing/sanction of loan application in a transparent manner. It would also be

ensured that such charges/fees are non-discriminatory.

3.

Advertising, Marketing and Sales :

AHFL :

(a) Shall ensure that all advertising and promotional material is clear, and not

misleading.

(b) in any of its advertisement in any media and promotional literature that

draws attention to a service or product and includes a reference to an interest

rate shall also indicate whether other fees and charges will apply and that full

details of the relevant terms and conditions are available to you on request.

(c) if it avails of the services of third parties for providing support services shall

require that such third parties handle customer's personal information (if any

available to such third parties) with same degree of confidentiality and

security as the Company would.

(d) may from time to time, communicate to customers various features of their

products availed by them. Information about their other products or

promotional offers in respect of products / services may be conveyed to

customers only if he / she has given his / her consent tor to receive such

information/service.

(e) shall prescribe a code of conduct for the Direct Selling Agencies (DSAs)

whose services are availed to market products / services which amongst

other matters require them to identify themselves when they approach the

customer for selling products personally or through phone.

(f) in the event of receipt of any complaint from the customer that the

Company's representative / courier agency or DSA has engaged in any

improper conduct or acted in violation of this Code, appropriate steps shall

be initiated to investigate and to handle the complaint and to make good the

loss.

Prescribe a code of conduct for their Direct Selling Agencies (DSAs) whose services

are availed to market products / services which amongst other matters require them

to identify themselves when they approach the customer for selling products

personally or through phone.



g) In the event of receipt of any complaint from the customer that AHFL’s

representative / courier or DSA has engaged in any improper conduct or acted in

violation of this Code, appropriate steps shall be initiated to investigate and to

handle the complaint and to make good the loss.

4. Loans

4.1.1

Applications for loans and their processing.

Standard schedule of fee/ charges relating to the loan application depending on the

segment to which the accounts belong will be made available to all the prospective

borrowers in a transparent manner, along with the loan application, irrespective of

the loan amount. Likewise, amount of fee non-refundable in the event of non-

acceptance of the application, prepayment options and any other matter which

affects the interest of the borrower will also be made known to the borrower at the

time of application.

Receipt of completed application forms will be duly acknowledged by sms/call.

The acknowledgement would also include the approximate date by which the

applicant should call on the Company for preliminary discussions, if deemed

necessary.

All loan applications will be disposed of within a period of 4 weeks from the date of

receipt of duly completed loan applications i.e. with all the requisite

information/papers.

In case of rejection of loan application, irrespective of category of loans or threshold

limits, the same would be conveyed in writing along with the main reason(s), which

led to rejection of the loan application within above time limit.



4.1.2 Loan appraisal and terms/conditions

In accordance with AHFL’s prescribed risk based assessment procedures, each loan

application will be assessed and suitable margin/securities will be stipulated based

on such risk assessment and AHFL’s extant guidelines, however without

compromising on due diligence.

The sanction of credit limit/loan along with the terms and conditions thereof will be

conveyed to the loan applicant in writing and applicant’s acceptance of such terms

and conditions will be obtained in writing. Such terms and conditions as have been

mutually agreed upon between the bank and borrower prior to the sanction will only

be stipulated.

Copy of loan documents, along with a copy of all relevant enclosures will be made

available to the loan applicant on specific request. Standard sanction letter would

include instances of approval, disallowance, etc. The Company is under no legal

obligation to consider increase/additional limits/facilities without proper

review/assessment.

(ii) Loan appraisal and terms/conditions

a) Normally all particulars required for processing the loan application shall be

collected by the AHFLs at the time of application. In case it needs any additional

information, the customer should be told that he would be contacted immediately

again.

b) AHFLs should convey in writing to the borrower by means of sanction letter or

otherwise, the amount of loan sanctioned along with all terms and conditions

including annualized rate of interest, method of application, EMI Structure,

prepayment charges and keep the written acceptance of these terms and conditions

by the borrower on its record.

c) AHFLs shall furnish a copy of the loan agreement along with a copy each of all

enclosures quoted in the loan agreement to every borrower at the time of sanction /

disbursement of loans, upon request.

(iii) Communication of rejection of Loan Application to the customer by letter/email

4.1.3 Disbursement of loans including changes in terms and conditions

Disbursement of loans sanctioned is to be made immediately on total compliance of

terms and conditions including execution of loan documents governing such

sanction.

Any change in terms and conditions, including interest rate and service charges, will

be informed individually to the borrowers in case of account specific changes and in

case of others by Public Notice/display on Notice Board at the branches/on the

AHFL’s website/through Print and or other Media from time to time.



Changes in interest rates and service charges will be effected prospectively.

Consequent upon such changes any supplemental deeds documents or writings are

required to be executed, the same shall also be advised. Further, availability of

facility will be subject to execution of such deeds documents or writings.

4.1.4 Post disbursement supervision

Post disbursement supervision, particularly in respect of loans upto Rs 2 lakh,

would be constructive with a view to taking care of any genuine difficulties that the

borrower may face.

Before taking a decision to recall/accelerate payment or performance under the

agreement or seeking additional securities the Bank would give reasonable notice to

the borrower.

All securities pertaining to the loan would be released on receipt of full and final

payment of the loans subject to any legitimate right or lien and set off for any other

claim that the Bank may have against the borrowers. If such right is to be exercised,

borrowers would be given due and proper notice with requisite details.

4.1.5. Other general provisions.

AHFL would refrain from interference in the affairs of the borrower except for what

is provided in the terms and conditions of loan sanction documents (unless new

information, not earlier disclosed by the borrower, has come to the notice of the

AHFL as lender). However this does not imply that AHFL’s right of recovery and

enforcement of security under Law.

AHFL will not discriminate on the grounds of gender, caste or religion in its lending

policy and activity.

In the case of recovery, AHFL would resort to the usual measures as per laid down

guidelines and extant provisions and would operate within the legal framework.

AHFL is already having a Policy on Code of conduct for Collection of Dues and

Repossession of Security.

In case of request for transfer of borrowers accounts, either from the borrower or

from a Bank/Financial Institution, the AHFL’s consent or otherwise shall be

conveyed within 21 days from the date of receipt of request.

(iv) Disbursement of loans including changes in terms and conditions

a) Disbursement should be made in accordance with the disbursement schedule

given in the Loan Agreement/ Sanction Letter.

b) The AHFLs should give notice to the borrower of any change in the terms and

conditions including disbursement schedule, interest rates, service charges,

prepayment charges, other applicable fee/ charges etc. AHFLs should also ensure



that changes in interest rates and charges are effected only prospectively. A suitable

condition in this regard should be incorporated in the loan agreement.

c) If such change is to the disadvantage of the customer, he/she may within 60 days

and without notice close his / her account or switch it without having to pay any

extra charges or interest.

d) Decision to recall / accelerate payment or performance under the agreement or

seeking additional securities, should be in consonance with the loan agreement.

e) AHFLs should release all securities on repayment of all dues or on realization of

the outstanding amount of loan subject to any legitimate right or lien for any other

claim AHFLs may have against borrower. If such right of set off is to be exercised,

the borrower shall be given notice about the same with full particulars about the

remaining claims and the conditions under which AHFLs are entitled to retain the

securities till the relevant claim is settled /paid.

4.2 Guarantors:

When a person is considered to be a guarantor to a loan, AHFL shall inform him/her

the following under acknowledgement-

(a) Letter/ Deed of Guarantee stating the terms of liability as guarantor.

(b) AHFL shall keep him/her informed of any default in servicing of the loan

by the borrower to whom he/she stands as a guarantor.

a) his/her liability as guarantor;

b) the amount of liability he/she will be committing him/herself to the company;

c) circumstances in which AHFL will call on him/her to pay up his/her liability;

d) whether AHFL has recourse to his/her other monies in the company if he/she fail

to pay up as a guarantor;

e) whether his/her liabilities as a guarantor are limited to a specific quantum or are

they unlimited; and

f) time and circumstances in which his/her liabilities as a guarantor will be

discharged as also the manner in which AHFL will notify him/her about this

AHFLs shall keep him/her informed of any material adverse change/s in the

financial position of the borrower to whom he/she stands as a guarantor.

4.3 Privacy And Confidentiality

All the borrower’s personal information shall be treated as private and confidential

(even when he/she is no longer our customer) and shall be guided by the following

principles and policies. The Company shall not reveal information or data relating to

your accounts to anyone, including other companies in the group, other than in the

following exceptional cases :



a) If the information is to be given by law.

b) If there is a duty towards the public to reveal the information.

c) If the AHFL’s interests require them to give the information (for example, to

prevent fraud) but it should not be used as a reason for giving information about

customer or customer accounts (including customer name and address) to anyone

else, including other companies in the group, for marketing purposes.

d) If the customer asks the AHFL to reveal the information, or with the customer’s

permission.

e) If AHFLs are asked to give a reference about customers, they shall obtain his / her

written permission before giving it.

f) The customer shall be informed the extent of his / her rights under the existing

legal framework for accessing the personal records that an AHFL holds about him

/her.

g) AHFLs shall not use customer’s personal information for marketing purposes by

anyone including AHFLs unless the customer specifically authorizes them to do so.

4.4 Credit reference agencies

Customer are hereby informed that at the time of opening a new account, the

Company will pass his / her account details to credit reference agencies and the

checks the Company may undertake in this regard.

The Company will provide information to credit reference agencies about the

personal debts, the customer owe to it if :

(i) He/she have fallen behind with the payments

(ii) The amount owed is not in dispute; and

(iii) He /she have not made satisfactory proposal for repaying the debt,

following the Company's formal demand.

In these cases, the Company shall intimate customer in writing its plan to give

information about the debts he/she owe it to credit reference agencies. At the same

time, the Company shall explain to the customer the role of the credit reference

agencies and the effect the information they provide can have on your ability to get

credit.

The Company may give credit reference agencies other information about the

customer’s account if he/she has given permission to do so.

The Company shall provide the customer with a copy of the information which the

Company has given to the credit reference agencies about the customer, if so

demanded by him/ her.



a) When a customer opens an account, AHFLs shall inform him / her when they may

pass his / her account details to credit reference agencies and the checks AHFLs may

make with them.

b) AHFLs may give information to credit reference agencies about the personal

debts the customer owes them if:

i. The customer has fallen behind with his / her payments;

ii. The amount owed is not in dispute; and

iii. The customer has not made proposals that the AHFLs are satisfied with, for

repaying his / her debt, following AHFL’s formal demand

c) In these cases, AHFLs shall intimate the customer in writing that they plan to give

information about the debts the customer owes them to credit reference agencies. At

the same time, AHFLs shall explain to the customer the role of credit reference

agencies and the effect the information they provide can have on customer’s ability

to get credit.

d) AHFLs may give credit reference agencies other information about the customer’s

account if the customer has given them his / her permission to do so.

e) A copy of the information given to the credit reference agencies shall be provided

by the AHFL to a customer, if so demanded

4.5 Collection of Dues

Whenever loans are given, AHFL would explain to the customer the repayment

process by way of amount, tenure and periodicity of repayment. However if the

customer does not adhere to repayment schedule, a defined process in accordance

with the laws of the land shall be followed for recovery of dues. The process will

involve reminding the customer by sending him/her notice or by making personal

visits and / or repossession of security, if any.

AHFL staff or any person authorized to represent the company in collection of dues

or/and security repossession shall identify himself / herself and display the authority

letter issued by the AHFL and upon request, display his/her identity card issued by

the AHFL or under authority of the AHFL. The company shall provide the

customers with all the information regarding overdue.

All assistance shall be given to resolve disputes or differences regarding dues in a

mutually acceptable and in an orderly manner.

During visits to customer's place for dues collection, decency and decorum shall be

maintained.

4.5.1 Whenever loans are given, AHFLs should explain to the customer the

repayment process by way of amount, tenure and periodicity of repayment. However

if the customer does not adhere to repayment schedule, a defined process in

accordance with the laws of the land shall be followed for recovery of dues. The



process will involve reminding the customer by sending him / her notice or by

making personal visits and / or repossession of security if any.

4.5.2 The AHFL’s collection policy should be built on courtesy, fair treatment and

persuasion. AHFLs should believe in fostering customer confidence and long-term

relationship. AHFL’s staff or any person authorized to represent them in collection

of dues or / and security repossession shall identify himself / herself and display the

authority letter issued by the AHFL and upon request, display his / her identity card

issued by the AHFL or under authority of the company. AHFL’s shall provide

customers with all the information regarding dues and shall endeavor to give

sufficient notice for payment of dues.

4.5.3 All the members of the staff or any person authorised to represent the AHFL in

collection or / and security repossession should follow the guidelines set out below:

a) Customer would be contacted ordinarily at the place of his / her choice and in the

absence of any specified place at the place of his / her residence and if unavailable at

his / her residence, at the place of business / occupation.

b) Identity and authority to represent the AHFL should be made known to the

customer at the first instance.

c) Customer’s privacy should be respected.

d) Interaction with the customer shall be in a civil manner

e) AHFLs’ representatives shall contact the customers between 0700 hrs and 1900

hrs, unless the special circumstances of the customer’s business or occupation

require otherwise.

f) Customer’s request to avoid calls at a particular time or at a particular place shall

be honored as far as possible.

g) Time and number of calls and contents of conversation would be documented.

h) All assistance should be given to resolve disputes or differences regarding dues in

a mutually acceptable and in an orderly manner.

i) During visits to customer’s place for dues collection, decency and decorum should

be maintained.

j) Inappropriate occasions such as bereavement in the family or such other

calamitous occasions should be avoided for making calls/visits to collect dues.

4.6 Complaints and Grievances

Internal Procedures

The Company would endeavor to deal quickly and sympathetically to correct

any mistake committed by its staff/system/process and would cancel any

charges wrongly accrued due to such mistakes.

The Company would provide suitable alternative avenues to alleviate

problems arising out of technological failures.

To redress customer grievances, he/she may write or call Customercare no of

the concerned Branch clearly stating the nature of the grievance along with

necessary documents, if any, and the customer will be provided with a reply.



The Company would request customer to complain against

representative/courier or Direct Selling Agent (DSA) or broker for sourcing

deposits or any other agencies employed by The Company if they are

engaged in any improper conduct or action in violation of the code. The

company would ensure that the complaint is properly investigated and proper

action and redressal takes place.

4.7 Know Your Customer (KYC) Policy:

The Company shall carry out due diligence as required under "Know Your

Customer" (KYC) policy of our Company before opening and operating customer’s

account and in furtherance of the policy. The customer will be asked to submit or

provide necessary documents or proofs for the same. The Company shall ensure

obtaining only such information so as to meet Company's KYC, Anti Money

Laundering or any other statutory requirements.

The Company shall provide the Loan application form / account opening forms and

other material to you and the same shall contain all details of essential information

required to be furnished and documents to be produced for verification and/or for

record for meeting the KYC requirements

The Company shall explain the procedural formalities and provide necessary

classifications sought by the customer while opening a loan account.

4.8 Deposit Accounts :

AHFL shall provide all information regarding its various deposit schemes, if and

when the same are launched, including rate of interest, method of interest

application, terms of the deposits, premature withdrawal, renewal, loan against

deposits, nomination facilities etc. as and when applicable.

4.9 Branch Closure / Shifting

AHFL shall give notice to the customer in the event of closure/shifting of its branch

office by way of putting it on notice board before closure/shifting.



4.10

4.11

Complaints

a)Every AHFL should have a system and a procedure for receiving, registering and

disposing of complaints and grievances in each of its offices.

b) The Board of Directors of AHFLs should lay down the appropriate grievance

redressal mechanism within the organization to resolve complaints and grievances.

Such a mechanism should ensure that all disputes arising out of the decisions of

company’s functionaries are heard and disposed of at least at the next higher level.

c) Customer should be told where to find details of AHFL’s procedure for handling

complaints fairly and quickly.

d) If the customer wants to make a complaint, he/she should be told:

I. How to do this

II. Where a complaint can be made

III. How a complaint should be made

IV. When to expect a reply

V. Whom to approach for redressal

VI. What to do if the customer is not happy about the outcome.

VII. AHFL’s staff shall help the customer with any questions the customer has.

e) If a complaint has been received in writing from a customer, an AHFL shall

endeavor to send him/her an acknowledgement / response within a week. The

acknowledgement should contain the name & designation of the official who will

deal with the grievance. If the complaint is relayed over phone at AHFL’s

designated telephone helpdesk or customer service number, the customer shall be

provided with proper contact number and be kept informed of the progress within a

reasonable period of time.

f) After examining the matter, AHFL shall send the customer its final response or

explain why it needs more time to respond and shall endeavor to do so within 30

days of receipt of a complaint and he/she should be informed how to take his/her

complaint further if he/she is still not satisfied.

g) AHFL shall publicize its grievance redressal procedure and ensure that it is

specifically made available on its notice board/website. AHFL shall clearly display

in all its offices / branches and on the website that in case the complaint does not get

resolved, AHFL would strive for customer satisfaction within the framework of law,

adopted policies and procedures.

In case of any grievance, the customer may approach the In-Charge of the business

location where he / she had his / her account and register the complaint in the

‘Complaint Register’ available with the Branch In-Charge.

On registering the complaint, the customer should obtain complaint number and date

for future reference



5.

Customer may also write / communicate with the concerned location for redress of

the grievance. (For list of locations, please log on to website –

www.aadharhousing.com)

In case the response is unsatisfactory or no response is received, the complaint

should be escalated to the following :

Grievance Redressal Mechanism

Aadhar Housing Finance Ltd strives for customer satisfaction within the framework

of the law , adopted policies & procedures.

The Branch Manager shall be the first contact for customer grievance. In case of any

complaint, customer can register the complaint in the ‘Complaint Register’ available

at the branch. On registering the complaint, the customer will obtain a complaint

number or date for future reference for email/written letter. The customer can also

write a letter to the Branch Manager in this regard.

The customer will receive a response within a period of 7 days from the date of

complaint from the Branch or email.

After examining the matter, the Senior Manager at Corporate Office shall send the

customer a final response or explain why it needs more time to respond and shall

endeavor to do so within 30 days.

In case the response is unsatisfactory or not received the response from the company

within reasonable time of 30 days or if dissatisfied with the response received, the

customer may approach NHB by filing online complaint at GRIDS or at the

following address / mail id:

National Housing Bank

Department of Regulation and Supervision

(Complaint Redressal Cell)

4th Floor, Core 5-A, India Habitat Centre

Lodhi Road, New Delhi – 110003

Email: [email protected] OR register at the online complaint portal.

General - The Company shall :

Explain the key features of its loan products including applicable fees and

charges while communicating the sanction of the loan.

Advise you what information/documentation required from customer to

enable him / her to apply. Customer would also be advised regarding what

documentation is needed from him / her with respect to customer’s identity,

address, employment, etc. and any other document that may be stipulated by

statutory authorities (e.g. PAN details) in order to comply with legal and

mailto:[email protected]



regulatory requirements.

Verify the details mentioned by you in the loan application by contacting you

at your residence and / or on business telephone numbers and / or

physically visiting his/her residence and/or business addresses through

agencies appointed for this purpose, if deemed necessary by the Company.

Customer would be informed to co-operate if the Company needs to

investigate a transaction on his/her account and with the police/ other

investigative agencies, if the Company needs to involve them.

The Company would advise the customer that if her / she act fraudulently,

he/she will be responsible for all losses on his/her account and that if he/she

act without reasonable care and this causes losses, he/she may be responsible

for the same. Not to discriminate on the basis of race, caste, gender, marital

status, religion or disability.

5.1. AHFL shall verify the details mentioned by him/her in the loan application by

contacting him/her at his/her residence and / or on business telephone numbers and /

or physically visiting his/her residence and/or business addresses through agencies

appointed for this purpose, if deemed necessary by the AHFL.

5.2. The customer should be informed to co-operate if the AHFL needs to investigate

a transaction on the customer’s account and with the police/ other investigative

agencies, if the AHFL needs to involve them.

5.3. AHFL should advise the customer that if the customer acts fraudulently, he / she

will be responsible for all losses on his/her account and that if the customer acts

without reasonable care and this causes losses, the customer may be responsible for

the same.

5.4. AHFL shall display about their products and services in any one or more of the

following languages:

Hindi or English or the appropriate local language.

5.5. AHFL shall not discriminate on grounds of sex, caste and religion in the matter

of lending. However, this does not preclude AHFLs from instituting or participating

in schemes framed for different sections of the society.

5.6. AHFL shall process requests for transfer of a loan account, either from the

borrower or from a bank/financial institution, in the normal course.



5.7. To publicise the code, AHFL shall:

a) provide existing and new customers with a copy of the Code

b) make this Code available on request either over the counter or by electronic

communication or mail;

c) make available this Code at every branch notice board and on their website; and

d) ensure that their staff are trained to provide relevant information about the Code

and to put the Code into practice.

5.8. The Board of Directors of AHFL should provide for periodical review of the

compliance of the Fair Practices Code and the functioning of the grievances

redressal mechanism at various levels of management. A consolidated report of such

reviews may be submitted to the Board at regular intervals, as may be prescribed by

it.

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